M-tron Industries, Inc. (MPTI) stock analysis
Close on Nov 13, 2026Market cap $280.04MP/E 23.1Yield –
StockData Score
Prices as of Nov 13, 2026How the score works
Solid15 of 30 checks passed
M-tron Industries passes 15 of the 30 checks behind our score; 9 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 3/6
- Growth
- 2/6
- Past performance
- 4/6
- Financial health
- 6/6
- Dividend
- 0/6
What stands out
Trading below fair value
The share price of $64.43 is below our fair value estimate of $77.69.
Return on capital over 10%
Return on invested capital was 41.2%, above the 10% that usually covers the cost of capital.
No debt
M-tron Industries has no borrowings on its latest balance sheet.
Revenue growing 10%+ a year
Revenue grew 19.6% a year over the last three fiscal years.
What to watch
Margin of safety under 20%
The price is 17.1% below fair value, less than the 20% cushion we look for.
Return on equity under 15%
Return on equity was 13.5% over the last twelve months and averaged 17.9% over five years; we look for 15% on both.
P/E above its 5-year median
M-tron Industries's P/E of 23.1 is above its own 5-year median of 21.3.
EV/EBITDA above its 5-year median
M-tron Industries's EV/EBITDA of 17.1 is above its 5-year median of 16.1.
Valuation3/6
P/E above its 5-year median
M-tron Industries's P/E of 23.1 is above its own 5-year median of 21.3.
P/E below the industry
M-tron Industries's P/E of 23.1 is below the Electronic Components and Accessories median of 34.1.
EV/EBITDA above its 5-year median
M-tron Industries's EV/EBITDA of 17.1 is above its 5-year median of 16.1.
P/B below the industry
M-tron Industries's price-to-book of 2.29 is below the Electronic Components and Accessories median of 3.21.
Trading below fair value
The share price of $64.43 is below our fair value estimate of $77.69.
Margin of safety under 20%
The price is 17.1% below fair value, less than the 20% cushion we look for.
Growth2/6
Revenue growing 10%+ a year
Revenue grew 19.6% a year over the last three fiscal years.
EPS growing 10%+ a year
Diluted EPS grew 57.5% a year over the last three fiscal years.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growing slower than the industry
Revenue grew 12.8% over the last twelve months; the Electronic Components and Accessories median is 17.6%.
Company guidance
No outlook found in earnings releases from the last twelve months.
Gross margin trend
This company does not report gross profit.
Past performance4/6
Return on equity under 15%
Return on equity was 13.5% over the last twelve months and averaged 17.9% over five years; we look for 15% on both.
Return on capital over 10%
Return on invested capital was 41.2%, above the 10% that usually covers the cost of capital.
Return on equity above the industry
M-tron Industries's return on equity of 13.5% is above the Electronic Components and Accessories median of 5.0%.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin above its 5-year average
Net margin was 18.0% over the last twelve months, against a 5-year average of 10.2%.
Net margin above the industry
M-tron Industries's net margin of 18.0% is above the Electronic Components and Accessories median of 3.0%.
Financial health6/6
No debt
M-tron Industries has no borrowings on its latest balance sheet.
Debt not rising
With no debt today, leverage cannot have risen.
Debt covered by cash flow
There is no debt to cover.
Interest well covered
No meaningful interest expense to cover.
Short-term assets cover short-term debts
Current assets are 18.89 times current liabilities.
Low bankruptcy risk
The Altman Z-score is 28.02; above 3 is the safe zone and below 1.8 the distress zone.
Dividend0/6
No dividend
M-tron Industries has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itOur estimate per share
$77.69
The share price is 17% below this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| P/E | 28.8× | 21.3× | 34.1× | $80.28 | 47% |
| EV/EBITDA | 18.8× | 16.1× | 20.6× | $68.42 | 41% |
| P/B | 3.5× | 4.0× | 3.2× | $99.82 | 12% |
| Earnings powerleft out, too far from the others | 12.2% cost of equity | – | – | $10.60 | – |
| Fair value | $77.69 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Own 5-year median 21.3
- Electronic Components and Accessories median 34.1
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Medium risk
- Average value traded per day
- $6.06M
- Value traded per 1% price move
- $2.59M
Downside
Medium risk
- Typical loss in a bad month
- 19.4%
- Volatility (annualized)
- 55%
- Sharpe ratio, 1 year
- 0.29
- Beta to the S&P 500 (5Y)
- 1.42
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2020 to 2025
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +11.0% | +19.6% | – | – | |
| Operating income | +9.5% | +53.0% | – | – | |
| Net income | +10.6% | +67.5% | – | – | |
| EPS, diluted | -1.1% | +57.5% | – | – | |
| Free cash flow | +44.2% | +94.3% | – | – |
Returns and balance sheet
6 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2020 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 17.9% | |
| Return on assets | – | – | 16.1% | |
| Current ratio | – | – | 12.52 | |
| Debt to equity | – | – | – | |
| Capex to revenue | – | – | 4.7% | |
| Diluted shares | – | – | 3M |
Where the cash went
Fiscal 2021 to 2025, five years combined
M-tron Industries generated $27.59M from operations and spent $7.77M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 15.5% | 1.04× | 1.11× | 17.9% |
| FY2024 | 15.6% | 1.61× | 1.19× | 29.8% |
| FY2023 | 8.5% | 1.89× | 1.27× | 20.4% |
| FY2022 | 5.6% | 1.62× | 1.26× | 11.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$8.45M
- Cash generatingOperating cash flow above zero$10.66M
- Return on assets improvedROA up on the prior year31.4% → 23.1%
- Earnings backed by cashOperating cash flow above net income$10.66M vs $8.45M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose5.70 → 12.52
- No dilutionShare count did not rise3M → 3M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose2.02 → 1.49
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